Somboon Advance Technology Public Company Ltd said its normalized net income for the fourth quarter amounted to 31 satang per share, compared with the S&P Capital IQ consensus estimate of 47 satang per share.

EPS decreased 7.6% year over year from 34 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 133.2 million baht, a decrease of 7.6% from 144.2 million baht in the year-earlier period.

The normalized profit margin dropped to 6.1% from 6.9% in the year-earlier period.

Total revenue rose 5.8% on an annual basis to 2.21 billion baht from 2.09 billion baht, and total operating expenses rose 8.3% year over year to 1.99 billion baht from 1.83 billion baht.

Reported net income decreased year over year to 202.4 million baht, or 48 satang per share, from 210.8 million baht, or 50 satang per share.

For the year, the company's normalized net income totaled 1.01 baht per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.51 baht.

EPS declined from 1.05 baht in the prior year.

Normalized net income was 428.0 million baht, a fall from 448.3 million baht in the prior year.

Full-year total revenue rose 7.8% year over year to 8.82 billion baht from 8.18 billion baht, and total operating expenses grew 9.5% year over year to 8.07 billion baht from 7.37 billion baht.

The company said reported net income decreased on an annual basis to 641.5 million baht, or 1.51 baht per share, in the full year, from 649.8 million baht, or 1.53 baht per share.

As of Feb. 18, US$1 was equivalent to 35.59 baht.